Definition of Gross Domestic Product

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TeachMeFinance.com - explain Gross Domestic Product



gross domestic product (GDP) -- The total market value of goods and services produced domestically during a given period. The components of GDP are consumption (both household and government), gross investment (both private and government), and net exports.

another definition...

Gross domestic product -- The total value of a nation's output, income, or expenditure produced within its physical boundaries.

another definition...

Gross Domestic Product -- A measure of the market value of all goods and services produced within the boundaries of a nation. It excludes income from external enterprises or investments.



About the author

Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


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